2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5%
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6%
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5.17%
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8%
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Detailed explanation-1: -Mumbai: Max Financial Services (MFSL) has received insurance regulator Irdai’s nod to acquire the residual 5.2% in Max Life Insurance from Mitsui Sumitomo.
Detailed explanation-2: -Axis Entities have earlier acquired 12.99 percent stake in Max Life at Rs 35 per share with the right to acquire an additional 7 percent stake in the company.
Detailed explanation-3: -Solvency ratio of 201%, 1.34 times more than the mandatory 150% indicating the company’s strong and stable financial position.
Detailed explanation-4: -Axis Bank and its subsidiaries Axis Capital Limited and Axis Securities are the co-promoter of Max Life Insurance following the acquisition of a 12.99 per cent stake in April 2021.
Detailed explanation-5: -Analjit Singh is the Founder & Chairman of The Max Group, a leading Indian multi business enterprise, with interests in life insurance (Max Life), real estate (Max Estates), senior living (Antara).